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    Economic growth, electricity consumption, urbanization and environmental degradation relationship in United Arab Emirates
    (ELSEVIER SCIENCE BV, 2014) Shahbaz, Muhammad; Sbia, Rashid; Hamdi, Helmi; Öztürk, İlhan
    The present study explores the relationship between economic growth, electricity consumption, urbanization and environmental degradation in case of United Arab Emirates (UAE). The study covers the quarter frequency data over the period of 1975-2011. We have applied the ARDL bounds testing approach to examine the long run relationship between the variables in the presence of structural breaks. The VECM Granger causality is applied to investigate the direction of causal relationship between the variables. Our empirical exercise reported the existence of cointegration among the series. Further, we found an inverted U-shaped relationship between economic growth and CO2 emissions i.e. economic growth raises energy emissions initially and declines it after a threshold point of income per capita (EKC exists). Electricity consumption declines CO2 emissions. The relationship between urbanization and CO2 emissions is positive. Exports seem to improve the environmental quality by lowering CO2 emissions. The causality analysis validates the feedback effect between CO2 emissions and electricity consumption. Economic growth and urbanization Granger cause CO2 emissions
  • Küçük Resim
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    Economic growth, financial development, urbanisation and electricity consumption nexus in UAE
    (ROUTLEDGE JOURNALS, TAYLOR & FRANCIS LTD, 2017) Sbia, Rashid; Shahbaz, Muhammad; Öztürk, İlhan
    This study aims to explore the relationship between economic growth, urbanisation, financial development and electricity consumption in United Arab Emirates for the period 1975-2011. The ARDL bounds testing approach is employed to examine the long-run relationship between the variables in the presence of structural breaks. The VECM Granger causality is applied to investigate the direction of causal relationships between the variables. Our empirical exercise validated the cointegration between the series in the case of United Arab Emirates. Further, results reveal that an inverted U-shaped relationship is found between economic growth and electricity consumption. Financial development adds in electricity consumption. The relationship between urbanisation and electricity consumption is also an inverted U-shaped. This implies that urbanisation increases electricity consumption initially and, after a threshold level of urbanisation, electricity demand falls. The causality analysis finds feedback hypothesis between economic growth and electricity consumption, i.e. economic growth and electricity consumption are interdependent. The bidirectional causality is found between financial development and electricity consumption. Economic growth and urbanisation Granger cause each other. The feedback hypothesis is also found between urbanisation and financial development, financial development and economic growth, and the same is true for electricity consumption and urbanisation.